Gold Backed Yuan? It’s Not Possible

🇨🇳 🇨🇳 Assuming US gold reserves stay constant, China would need to increase its current 7.3 million ounces of gold to 1.1 billion ounces. To get to 1.1 billion ounces, it would have to buy every ounce of gold mined for almost the next nine years. De-dollarization is going to have to involve more than Chinese gold purchases

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